"Keith Nuttle" wrote in message
...

HK wrote:

Stocks have been grossly overvalued for years. Now they are down closer
to where they belong. There's only so far a corporation can go with
fraudulent bookkeeping.



In 1986 when the stock market was running about 1000, I heard an
accountant I worked with said the same thing. He gave me all kinds of
reasons that the market would not go above 1000. Five years later the
market was at 2500. 10 years later it was at 12000.

While what you say is probably valid if the currency is tied to something
like gold, but when the currencies float against each other it becomes
invalid.



Very good point.

Eisboch